Fraser Eagle sold their 79% shareholding in Grand Central in March 2007 to two former managers of Prism Rail, backed by a private equity group.[15][16]

Operations were due to commence in May 2007, however delays in procuring and then refurbishing rolling stock delayed this.[17][18][19]

Operations commenced on 18 December 2007 between Sunderland and London King's Cross. While awaiting the delivery of all of the rolling stock, initially only one Sunderland - Kings Cross and one York - Kings Cross service operated in each direction.[20][21][22] The full timetable was introduced in March 2008.[23][24] Mechanical problems with the High Speed Trains led to services being regularly cancelled, resulting in a reduced service being operated from May until July 2008.[25][26]

In March 2008 Grand Central lodged an application with the Office of Rail Regulation to operate three daily services from Bradford Interchange to London King's Cross.[27] In January 2009 Grand Central were granted access rights for three daily Bradford Interchange to London King's Cross services until December 2014 and a fourth Sunderland to London King's Cross service until May 2012.[28] In August 2009 the fourth daily Sunderland - London King's Cross service commenced.[29]

The Office of Rail Regulation announced in February 2010 that all access rights have now been extended until December 2016.[30]

In May 2010 Grand Central services between Bradford Interchange and London King's Cross commenced.[31][32] It was hoped that the service would start in December 2009, but difficulties in securing rolling stock caused delay.[33]

In November 2011 Grand Central was purchased by Arriva UK Trains.[34][35][36] At the time of the takeover Grand Central had 123 employees, a turnover of £18.9m and debts of £44m.[37]

From December 2011 Bradford services have made an additional stop at Mirfield.[38]

Grand Central has never been profitable and by December 2011 had accrued losses of £40 million.[39]

In December 2013, a fourth daily Bradford to London Kings Cross service commenced, operating Monday through to Sunday.

In August 2014, Grand Central was granted an extension of its operating rights until December 2026.[40][41]

Grand Central has given names to two trains on its Sunderland route. Contrary to tradition in British named train services, these are not pairs but individual one-way trips. In the 2008 timetable, the name The Zephyr was given to the early morning (06:41) departure from Sunderland, while the teatime (16:50) train from London was called The 21st Century Limited. No mention of these was made from the 2012 timetable.

Unlike fellow open-access operator First Hull Trains, Grand Central did not previously release performance statistics and, because it is not a rail franchise holder, it was not obliged to do so. However, the latest performance statistics published by the ORR (Office for Rail Regulation) do include Grand Central. The Public Performance Measure (PPM) for the second quarter of 2012-13 was 87.1%, up from the previous report (2011–12) of 84.4%.[44]

In its National Passenger Survey for Autumn 2012, Passenger Focus reported an overall passenger satisfaction rating of 96% for Grand Central - the highest score in the survey. Also, Grand Central gained the highest overall score in "The value for money for the price of your ticket" category with 73%. In the "Punctuality/reliability (i.e. the train arriving/departing on time)" category, Grand Central scored 94% - the equal second highest score. All results from the same Passenger Focus Autumn 2012 survey.[45]

In February 2015 Grand Central gained the highest customer score - 76% - in Which? magazine's Best and worst train companies survey, and scoring 4/5 stars in all six specific categories on which train operators were assessed.[46]

In October 2006 sister company Sovereign Trains purchased six Class 43 power cars and 24 Mark 3 trailer vehicles from Porterbrook.[49] The Class 43s, that all had buffers fitted when they were modified in the late 1980s for use with the Class 91 locomotives during the electrification of the East Coast Main Line, were sent for overhaul at DML, Plymouth.[50][51] The Mark 3s were overhauled at Marcroft Engineering, Stoke-on-Trent. Eighteen of the Mark 3s were former Virgin West Coast loco-hauled carriages that required rewiring in order to work with the power cars due to different electrical requirements.

Due to delays encountered during the overhauls, Grand Central investigated leasing spare High Speed Trains from Midland Mainline.[52] However nothing came of this and it wasn't until December 2007 that enough stock had been delivered for operations to commence. The full fleet was in service by March 2008.

To operate the fourth Sunderland service two Class 180s were leased from Angel Trains in 2009[57] followed in 2010 by another three to operate the Bradford services.[58][59] Before entering service, 180112 was named James Herriot in July 2009.[60] The remaining two units, 180105 and 180114, entered service later in 2009.[61] Grand Central secured two further Class 180s, 180101 and 180107, bringing the total number to five.[62] The Class 180 fleet operate both Sunderland and Bradford services, but the InterCity 125 trains operate services to Sunderland only because the route to Bradford is not suitable for these trains.

In August 2013 Grand Central revealed proposals for moving to an all-Class 180 fleet.[63]

In April 2015, Grand Central announced proposals to operate six return journeys each day between London and Blackpool using 6 coach Alstom Pendolino trains and intends to seek approval from the Office of Rail Regulation. [70]